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What Me, Worry? Gold Bugs Shrug

11/12/2013 10:44AM

It's been almost all downhill for gold over the past year. But the gold bugs don't seem to be worried about it, and that is a worrying sign from a contrarian point of view, Mark Hulbert says on MoneyBeat.

This transcript has been automatically generated and may not be 100% accurate.

... I ... is in almost all downhill gold over the past year ... gold bugs don't seem too worried about it and that ... is a worrying sign from contrarian point of view so says our resident contrary and Mark Albers ... Martell are you today ... carrier ... good so I see it with gold is under thirteen hundred again ... you know it hit a peak in twenty eleven at peak in twenty twelve ... it has been going downhill the economy didn't seem to recall operating for the gold bugs nor the Fed for that matter ... why aren't they worried ... versus the sixty four thousand dollar question they ... in turn that into a sentiment of course has no impact on the market's long term goal will respond fundamentals but ... I'm Simon isn't a good day a short-term indicator from a constrained by an Indian wind is too much bullishness Bad assignment is a lot of interest was and is there isn't a good sign ... we saw that the summer of them are ... the gold market responded by building going up ... not present in Wynyard it's because I didn't rose seventy two dollars an ounce ... people shot back on the bullish bandwagon thing and that was the beginning of something no longer term reversed market is the comeback since then ... and unfortunately so ... does not draw back and a debt that is the source of contributes or anything that people will be trying to tell them not to endure the fortieth time really is that because of that ... that said something about where gold might be going next ... well that's right I added the new cars and it is only a short term ... short-term market timing indicators is a broader trend analysis work today to tell you ... where it will be six months or years in Sydney gold sector inclined or that it's going to go back to new all-time highs ... while the it's the kids of ours and trend analysis is correct it suggests that regardless of where it's going to be ... ideal for now in the next couple weeks or months is going to be lower than where it is today ... yet ... how fast how fast did that change ... what is that is the key it could change overnight the sentiment it turns out as we all know investors are fickle and wheat tracking sentiment very carefully by looking at the advisors ... that are recommending to retail clients what portion of the cool early goal oriented portfolios of the market ... we've seen them to switch to switch gears almost overnight so it could be that as the situation would ... would improve very quickly and for now they seem to be daring be grudging ... I in any get up and getting out of their exposure levels there are a igniting readers there is even worse